BBIO vs VXZ: Correlation
How closely do BridgeBio Pharma, Inc. (BBIO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBIO and VXZ?
Across a 3-year window, the weekly returns of BBIO and VXZ correlate at -0.24, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.04) runs above the 3-year figure (-0.24). Stretching to 5 years gives -0.12, with an annualized covariance of -286.7 %².
VXZ is close to the least connected end of BBIO's tracked universe, ranking #9 of 10. The last year tells two different stories: BBIO led by 74.8 percentage points, +58.7% for BBIO against -16.1% for VXZ. Risk is not evenly split, since BBIO carries 1.8 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BBIO vs VXZ: side by side
| BBIO (BridgeBio Pharma, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +58.7% | -16.1% |
| 5-year return | +61.9% | -53.1% |
| Volatility (ann.) | 46.9% | 25.6% |
| Beta vs S&P 500 | 1.02 | -1.31 |
| Max drawdown (3Y) | -49.1% | -36.4% |
| Market cap | $15.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBIO | VXZ |
|---|---|---|
| 2022 | -54.3% | +0.5% |
| 2023 | +429.8% | -44.0% |
| 2024 | -32.0% | -12.7% |
| 2025 | +178.8% | +5.7% |
| 2026 | +2.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBIO and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between BBIO and VXZ?
As of 2026-08-27, the correlation of weekly returns between BBIO and VXZ is -0.24 over 3 years, 0.04 over 1 year and -0.12 over 5 years.
Is VXZ a good diversifier for BBIO?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bbio-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbio-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BBIO correlations · VXZ correlations
